I'd like to share my experience with Bitwig and FXP presets for the VST plugins.

After days of research and experimentation, I found I can drag-and-drop FXP files from the Windows explorer directly on Bitwig Arranger panel. This creates automatically new instrument track with the preset and corresponding VST. No need to convert FXP files to Bitwig preset format.

A step further: I extracted all presets for some of the VSTs into FXP files, renamed and organized them into folders under Bitwig Library\Presets. Now they are available and searchable in the Browser panel, as well as in the pop-up Browser.